ADB predicts 3.4pc GDP Growth in Pakistan for 2014

ISLAMABAD: Asian Development Bank (ADB) projected a moderate Gross Development Product (GDP) growth of 3.4 per cent in Pakistan during the year 2014 in Asian Development Outlook 2014 (ADO), released on Tuesday, ARY News Reported.

Asian Development Bank's flagship report Asian Development Outlook (ADO) 2014 has revised its earlier Pakistan's GDP growth forecast from 3 per cent of the GDP to 3.4 per cent of the GDP. However, this 3.4 per cent of the GDP forecast is below the government's budgetary growth target of 4.4 per cent of the GDP for the ongoing fiscal year 2013-14.

Different sources has predicted contrary about Pakistan GDP growth. Federal Finance Minister Ishaq Dar said Pakistan GDP will remain approximately at around 5 per cent, State Bank of Pakistan (SBP) forecasted it 4.5 per cent for the year 2014 while according to International Monetary Fund (IMF), it will remain at 3 per cent.

ADB has further warned for the possibility of increase in the budget deficit and inflation and less-than-projected revenue collection for the ongoing fiscal year 2013-14.

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